Brunswick Corporation’s (BC) “Hold” Rating Reaffirmed at Jefferies Group LLC
Brunswick Corporation (NYSE:BC)‘s stock had its “hold” rating reiterated by investment analysts at Jefferies Group LLC in a note issued to investors on Friday. They presently have a $56.00 price objective on the stock. Jefferies Group LLC’s target price points to a potential upside of 8.76% from the company’s previous close.
BC has been the subject of several other reports. Stifel Nicolaus lifted their price objective on shares of Brunswick Corporation from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $72.00 price objective on shares of Brunswick Corporation in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Brunswick Corporation from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, June 29th. BidaskClub raised shares of Brunswick Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Finally, Northcoast Research cut shares of Brunswick Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.27.
Shares of Brunswick Corporation (BC) traded down 2.85% during mid-day trading on Friday, hitting $49.86. The stock had a trading volume of 1,134,083 shares. The stock’s 50-day moving average is $58.93 and its 200 day moving average is $59.03. The firm has a market cap of $4.42 billion, a PE ratio of 15.82 and a beta of 1.81. Brunswick Corporation has a 12 month low of $42.02 and a 12 month high of $63.82.
Brunswick Corporation (NYSE:BC) last posted its quarterly earnings results on Thursday, July 27th. The company reported $1.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.02. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Brunswick Corporation had a net margin of 6.13% and a return on equity of 23.35%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Equities research analysts predict that Brunswick Corporation will post $4.05 earnings per share for the current fiscal year.
In other news, insider William Metzger sold 559 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $62.50, for a total transaction of $34,937.50. Following the transaction, the insider now directly owns 115,673 shares in the company, valued at $7,229,562.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark D. Schwabero sold 29,552 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $63.74, for a total transaction of $1,883,644.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,439 shares of company stock worth $3,258,968. Company insiders own 1.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its position in shares of Brunswick Corporation by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 31,641 shares of the company’s stock valued at $1,936,000 after buying an additional 400 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in shares of Brunswick Corporation during the first quarter valued at $495,000. Punch & Associates Investment Management Inc. raised its position in shares of Brunswick Corporation by 0.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 84,614 shares of the company’s stock valued at $5,178,000 after buying an additional 635 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Brunswick Corporation by 66.3% in the first quarter. Russell Investments Group Ltd. now owns 222,171 shares of the company’s stock valued at $13,592,000 after buying an additional 88,584 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its position in shares of Brunswick Corporation by 76.8% in the first quarter. Janney Montgomery Scott LLC now owns 10,188 shares of the company’s stock valued at $624,000 after buying an additional 4,427 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.
Brunswick Corporation Company Profile
Brunswick Corporation is a designer, manufacturer and marketer of recreation products. The Company operates through three segments: Marine Engine, Boat and Fitness. The Company’s product includes marine engines, boats, fitness equipment and active recreation products. The Company’s engine-related products include outboard, sterndrive and inboard engines; trolling motors; propellers; engine control systems; and marine parts and accessories.
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